FMCG companies took to apps, bet big on direct-to-consumer reach
The ongoing pandemic has also pushed consumers to buy goods online, a habit that is likely to stick. Keeping that in view, companies are enhancing their digital capabilities and charting out strategies to ensure their presence on e-commerce.Premium
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Firms focus on product innovations, partner with delivery platforms to ensure seamless supply of goods
New linkages of firms with food aggregators, hyperlocal apps, courier firms are reshaping the old model of depending solely on wholesalers
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When a lockdown was imposed in India late in March to contain the spread of coronavirus, the fast-moving consumer goods (FMCG) industry had little time to lose. Demand for packaged goods, such as staples, soaps, sanitizers, cookies and tea, surged as consumers stockpiled groceries fearing prolonged closure of stores. As markets shut down and factories closed, supply of essential goods was affected. However, FMCG firms were thinking on their feet and worked not only on product innovations, but also on solutions to ensure supply.